The joint venture between Citicore and AC Energy is expected to add much needed capacity to the Luzon grid in time for the demand surge during the hot summer season.
Citicore, which is controlled by the group that behind engineering and infrastructure firm Megawide Construction, said construction of phase 2 of the 72-megawatt Arayat-Mexico solar farm in Pampanga would begin next month.
The solar plant’s capacity will increase to 116 MW upon its completion this year.
“As we prepare to infuse this new asset into CREIT to grow its renewable energy asset portfolio in the coming months, our construction team is ready to break ground phase 2 by next month which will increase the total plant capacity to 116 MW upon completion hopefully before the end of the year,” said Citicore CEO Oliver Tan.
The solar plant reached its full capacity last March 23.
After its successful energization, the National Grid Corporation of the Philippines (NGCP) will be conducting its own set of testing for grid compliance, which is expected to be completed by the second week of April.
Tan said the on-time energization of the project further demonstrated Citicore’s solid track record in greenfield development to engineering, procurement and construction to plant operations and maintenance, a vertically integrated business model.
“This huge solar plant shall be managed and operated in-house by our Citicore Property Managers, Inc., currently, we have eight solar farms and one micro-grid solar rooftops under our management,” he said.
Manila Electric Co. (Meralco) has announced a significant decrease of P0.7961 per kWh in the December electricity rate, lowering the overall rate for a typical